Stocks to Watch: Reliance Industries, Paytm, HUL, HDFC Bank, IndusInd Bank

New Delhi: Here are the stocks likely to be in focus on Friday:

Reliance Industries: Mukesh Ambani-owned Reliance Industries Ltd will announce its December quarter (Q3FY24) results on 19 January, Friday. The oil-to-telecom conglomerate is expected to report a 9.3% year-on-year rise in consolidated net profit to ₹17,257 crore, aided by a steady performance of its digital and retail businesses. Consolidated revenue for Q3FY24 is likely to rise 5% YoY to ₹2.31 trillion. Sequentially, however, performance may be muted.

Paytm: The fintech firm's parent company One 97 Communications is expected to report strong revenue growth, with net losses narrowing in the third quarter of FY24. The company’s revenue from operations during Q3FY24 is expected to grow 32% year-on-year (YoY) to ₹2,721 crore. Net loss is seen narrowing to ₹280 crore. 

Hindustan Unilever: The FMCG major is expected to see muted earnings growth during the third quarter of FY24 as weak festive demand and price cuts are likely to have weighed on its volume and revenue growth. The company will release its Q3 results on Friday, with net profit seen rising 2.2% on year to ₹2,638 crore, as per average estimates of five brokerage houses. Revenue will likely remain flat at ₹15,400 crore. The company is expected to deliver muted volume growth of 1%-2%.

HDFC Bank: India’s largest private sector lender is seeking to open its first branch in Singapore, signalling its overseas ambitions after sewing up a landmark merger with mortgage financier Housing Development Finance Corp., last year. The bank has applied to the Monetary Authority of Singapore for a banking licence and is awaiting approval, although it is not clear what kind of banking license it is seeking for its Singapore venture.

IndusInd Bank: The private lender reported a 17.3% year-on-year rise in standalone net profit to ₹2,297.8 crore for the quarter ended December (Q3FY24) driven by strong loan growth and stable asset quality. At ₹3.27 trillion, the bank registered a loan growth of 20% YoY, while deposits grew 13%.

Tata Steel: The steelmaker is reportedly shutting down its Port Talbot blast furnaces in the UK after rejecting a trade union plan formulated to keep its blast furnaces running. The decision was made as per the company's plans to shift to an electric-arc furnace-only site in a bid to reduce carbon emissions and achieve net-zero targets. The move came after a meeting between Tata executives and the community, GMB, and Unite unions. Tata Steel is expected to make an official announcement of its plans on Friday. It reported a ₹6,511 crore loss in Q2FY24 due to Port Talbot.

Tata Communications: The Tata group company reported its fastest quarterly revenue growth in nearly nine years on Thursday, boosted by strength in its mainstay data services business. Revenue rose 24.4% to ₹5,633 crore during Q3FY24, while its earnings before interest, taxes, depreciation, and amortization (Ebitda) margin contracted to 20.1% from 23.8% a year earlier. Net profit fell 88.6% to ₹44.81 crore due to a one-time charge.

Coal India: As part of its diversification plans, state-run Coal India plans to acquire rare earth and critical mineral mines including lithium, directly from the government, in addition to bidding for Jammu & Kashmir’s lithium reserves in upcoming auctions. The company would be able to apply for mines reserved for government companies or corporations. In both the Mines and Minerals (Development and Regulation) Act and Offshore Areas Mineral (Development and Regulation) Act, provisions have been made to grant mineral concessions without competitive bidding to government companies on payment of such amount as may be prescribed by the Centre for such reserved areas.

Jindal Stainless Steel: The crisis in the Red Sea has hurt Jindal Stainless Steel's poses a risk to the company's export targets, managing director Abhudhay Jindal said. The company on Thursday reported a 35% YoY jump in consolidated net profit to ₹691 crore for the December quarter, while consolidated revenue was flat at ₹9,127 crore. The company anticipates a decline in Q4 exports, and has revised the target from 15% to around 12%, as per Jindal. Exports for the current quarter accounted for 12% of total sales.

Polycab India: The wires and cables manufacturer on Thursday reported a 15.3% YoY increase in consolidated net profit to ₹416 crore for the December quarter of FY24. Revenue from operations rose 17% YoY to ₹4,340.4 crore in Q3FY24.